When your child announces that they want to join the debate team, or they got picked for the traveling hockey squad, you’re thrilled—and a little worried about the extra expenses that come with extra-curriculars. Then there’s the cost of standardized tests, advanced placement and college prep tests, and private tutoring. How do you make sure you’re ready? Here are a few ideas.

Get ahead of the game by planning for extra-curriculars and school sports expenses
When it comes to after-school activities, your kids’ interests may change without warning, but there are some things you can do to feel financially prepared. Talk to other parents and staff members at your kid’s school, or do some digging around the school’s website to learn about the clubs, activities and school sports offered. Find out the cost to join—including any equipment you would need to buy. Learn how frequently they meet for practice and competition, how much travel is involved, and what your responsibilities as a parent would be. Understand the expenses associated with school sports and activities and you can start to adjust your budget accordingly.

It's also a good idea to talk to your kids about what activities they’d like to explore in the upcoming year. They don’t have to commit to anything yet, but even setting a maximum number of activities or dollars can help you both get a clear picture on what to expect.

The conversation doesn’t have to be about limits or restrictions. Instead, focus on family goals, like taking a vacation or getting a pet, and how budgeting drives those goals. This will not only help you keep your school expenses in check, it will help your kids understand finances and be thoughtful about their own spending decisions.

Small budget items can add up
Shay Ugaldea, a digital client advisor with Umpqua Bank and parent of two, knows all too well that hidden costs can sneak up on you—she learned the hard way when her child charged multiple meals a day to his lunch account. “My son was doing that notoriously,” Ugaldea says. “Growing kid! We set a rule to make our lunches at home the night before. Limiting hot lunch to only once a week is an easy money saver and probably a better nutritional option.”

Consider using an online budget planning tool, like Every Dollar or Mint, to keep tabs on those small everyday expenses. This is where an allowance can come in handy. Give your kid a small amount each week for hot lunch or snacks and allow them to figure out how they’ll spend it—with the understanding that once it’s gone, they’ll have to wait until next week’s allowance comes.

A proactive budget for parents means a less stressful school year for everyone
Whether you’re planning for pre-school childcare, after-school activities or college prep expenses, the sooner you can adjust your budget and start planning for added costs, the better. Mychal Alarilla, a digital client advisor with Umpqua Bank and father of one, suggests making your money work for you. “Most people don’t carry cash, they use their debit card for everything,” he says. “Why not earn money on money you’re going to spend anyway?”

Mychal suggests using a rewards credit card rather than a debit card and putting cash back rewards into a “rainy day” savings account. By paying off your credit card balance each month, you’ll avoid interest charges, and the extra cash will come in handy later in the year when your school budget is running low.

To make the most of your education budget, consider opening an education savings account. The interest you earn on an ESA isn’t taxed, and you can use the account to pay for things like textbooks, tutoring, and tuition. Contact us, or stop by your nearest Umpqua store, for all the details.

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At Umpqua Bank, the security of your personal financial information is our top priority. We take every precaution to ensure that our mobile banking tools are secure. Read more about our online banking security here.

Today, most people use the Internet for shopping, travel planning and managing their money, sharing payment information across the web. The key is to always be aware of how you’re sharing personal information, and with whom. By following these basic safety tips, you can help ensure your money stays secure.

1. Browse safely.

• Don’t access private accounts on a public-use computer. This can include libraries, airports, or courtesy computers in common areas of an office or apartment building. If you must use a public computer, avoid logging into secure sites that store your information, and erase your browsing history—including cookies—before leaving.

• Browsing on your phone? Be careful of public Wifi networks that don’t require a password. If your phone is connected to public Wifi, don’t disclose your personal information or enter password-protected sites.

2. Keep personal info personal.

• Never share personal information unless you initiated the conversation. If you get an email claiming there’s a problem with an account, don’t click any links in the email or provide information on the spot. These emails are likely phishing attacks, where fraudsters try to trick victims into providing private information. Instead, visit the company’s website directly and get in touch with their customer service department, or call the phone number listed on your account statement to follow up.

• Umpqua Bank will never email you a link that asks for your private information. If you get an email asking for this information, don’t respond or click on any links, and follow our guide to reporting scam attempts or fraud.

3. Keep passwords private.

• Use strong passwords for your laptop and credit, bank, and other accounts, and change them often. Be creative, and opt for “passphrases” which include multiple words, rather than a single word. Stay away from obvious passwords like names and birthdates. Opt instead for random phrases or a coding system, like only using the first letter of each word in a phrase, or substituting numbers for letters (zero instead of “O” or five instead of “S”).

• Many secure websites, like Gmail and Facebook, offer two-step verification for their logins. Whenever possible, use this option as an extra layer of protection. If keeping track of all your unique passphrases is overwhelming, try a secure password manager like LastPass. A password manager can save time and is much more secure than using the same password on multiple sites, or writing your passwords down.

4. Look for the lock.

• Take a look at the top of your browser window, where it shows the address of the page you’re viewing. A “lock” or padlock icon in the address bar of your internet browser means your information will be safely transmitted. You can also look closely at the web address; if it starts with “https,” the “s” stands for “secure.” If there’s no lock, and no “s,” be very cautious in what information you share.

5. Don’t be too social.

• If you share too much on social media, an identity thief can gather information about your life and use it to answer “challenge” questions on your accounts, gaining access to finances and personal information. Consider limiting access to your social pages to a small group of people. Never post your Social Security number or any account numbers on publicly accessible sites, and be cautious with posting your full name, address and phone number.

• As an extra precaution, don’t share account information or social security numbers through email, even with people you trust. Email is notoriously easy for hackers to access. If you need to share this information with a trusted friend or family member, tell them over the phone or face-to-face.

6. Take an active role.

• Make sure that any anti-virus software is up-to-date on your home computers and mobile devices. It’s also wise to research anti-virus software and choose just one trusted provider. Installing multiple anti-virus tools can slow down your device, and some scams pose as “virus protection.”

• If you bank with Umpqua, you’ll be informed right away of attempted fraud or phishing scams aimed at Umpqua bank, where fraudsters pose as legitimate organizations to try and trick consumers into providing sensitive information. It’s also a good idea to check Umpqua Bank’s Scam Alert page regularly.

7. Use online banking to your advantage.

• Check your bank balance daily to spot problems earlier. Federal law gives you the right to dispute fraudulent charges on your bank or credit card accounts, but only if the fraud is reported within a certain timeframe. It’s your responsibility to monitor accounts regularly and report any problems to your financial institution immediately. Waiting for a monthly statement in the mail could mean weeks before you realize your information has been stolen. By securely accessing your account through your bank’s website or mobile app, you can identify issues sooner and avoid additional charges.

• Enroll in e-statements. Electronic statements are safer than paper versions, which can easily be stolen from your mailbox. If you’re receiving paper statements from your bank or credit card company, that piece of mail contains highly sensitive information. By opting for e-statements, and following the tips outlined here, your information is much more secure.

These are just a few simple tips and habits to keep in mind when shopping or banking online. For more information, check out our guide to preventing fraud.

With these tips, you can use the power of online banking to keep your money safe. Visit our online and mobile banking page to learn how banking online can save you time and hassle, or stop into your nearest Umpqua Bank store to speak to one of our expert associates.

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